Walmart Marketplace is one of the fastest-growing E-Commerce platforms. It's leaning into the 32% growth of its Marketplace model last quarter with category launches, multichannel solutions, omnichannel innovations for sellers, and an endless aisle for consumers.
“We’re executing strategic priorities at Walmart that are helping us to become the customers’ first choice—every day, every season, for every item. Walmart Marketplace is a key component of that mission,” said Tom Ward, Executive Vice President and Chief E-Commerce Officer, at Walmart US. “We know the importance of personalized, seamless omnichannel experiences, and Walmart continues to advance its digital and fulfillment capabilities, including the new categories and features we announced today, that enhance the overall customer and seller experience on Walmart.com.”
In the spring of 2022, Walmart followed the lead of Target and Kohl, forming a strategic partnership with SpaceNK to tap the premium beauty opportunity. Last fall, the retailer incorporated AI try-on technology that is accessible on Walmart's iOS app and color product categories.
Circana reported that in the first half of 2024, the US prestige beauty market grew by 8% to $15.3 billion, while sales in the mass category held flat. Walmart is doubling down on that consumer with the expansion of Premium Beauty to Marketplace, the latest evolution of Walmart as a top beauty destination, and deepening customer trust through direct and approved sellers.
How people buy and discover brands has transformed into a seamless integration of online and offline experiences. Customers expect retailers to provide a convenient and enjoyable shopping experience.
Launching Premium Beauty on Walmart Marketplace through a new online experience has them going head-to-head with Amazon. More than 20 new brands, including COSRX, T3, and Beachwaver, are featured in the initial assortment of skincare, haircare, and hair tool products. Backed by custom storefronts and editorial content, Premium Beauty at Walmart creates an elevated, seamless brand experience, bringing the consumer 1,000 products across skincare and haircare.
For brands, the launch means custom storefronts rife with editorial content and product descriptions, and “a lot of space for branding and storytelling. Brands can really bring their story to life in a much deeper and richer experience,” said Michael Mosser, Vice President of Categories, Walmart Marketplace.
Walmart Marketplace has achieved more than 30% sales growth in each of the past four quarters and is significantly driving the retailer’s sustained E-Commerce success. Walmart’s global E-Commerce sales surpassed $100 billion last year, and its US E-Commerce business has delivered double digit growth for six consecutive quarters. The sustained momentum stems from innovative customer experiences and an omnichannel assortment that is increasing as more independent sellers choose Walmart as a smart path for growth. The number of sellers listing items on Walmart.com grew 20% last fiscal year.
The combination of Walmart’s digital and physical channels is a force multiplier for Walmart Marketplace. No other marketplace can offer Walmart’s broad customer reach, physical proximity, and seamless integration of digital and physical convenience.
